Waverly Advisors LLC Buys 6,753 Shares of Starbucks Co. (NASDAQ:SBUX)

Waverly Advisors LLC lifted its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 128.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,994 shares of the coffee company’s stock after acquiring an additional 6,753 shares during the period. Waverly Advisors LLC’s holdings in Starbucks were worth $1,096,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Vima LLC acquired a new stake in shares of Starbucks in the 4th quarter valued at about $26,000. Scarborough Advisors LLC bought a new stake in Starbucks in the 4th quarter valued at approximately $26,000. DSM Capital Partners LLC acquired a new position in Starbucks during the 4th quarter worth approximately $27,000. Fairman Group LLC acquired a new position in Starbucks during the 4th quarter worth approximately $30,000. Finally, Cypress Capital Management LLC WY grew its stake in shares of Starbucks by 133.1% during the 4th quarter. Cypress Capital Management LLC WY now owns 324 shares of the coffee company’s stock worth $31,000 after acquiring an additional 185 shares in the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on SBUX. Morgan Stanley reduced their target price on shares of Starbucks from $104.00 to $98.00 and set an “overweight” rating for the company in a report on Friday, July 12th. BTIG Research decreased their price objective on Starbucks from $115.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Jefferies Financial Group dropped their target price on Starbucks from $84.00 to $80.00 and set a “hold” rating on the stock in a report on Wednesday. Piper Sandler reduced their price target on Starbucks from $88.00 to $85.00 and set a “neutral” rating for the company in a research report on Monday, May 6th. Finally, Guggenheim lowered their price target on Starbucks from $100.00 to $91.00 and set a “buy” rating on the stock in a research report on Friday, April 19th. Seventeen equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Starbucks has an average rating of “Hold” and an average target price of $91.67.

Insider Buying and Selling at Starbucks

In other Starbucks news, CFO Rachel Ruggeri sold 3,750 shares of Starbucks stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $80.00, for a total value of $300,000.00. Following the transaction, the chief financial officer now owns 65,431 shares in the company, valued at $5,234,480. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $80.00, for a total value of $260,000.00. Following the completion of the transaction, the chief executive officer now owns 78,304 shares of the company’s stock, valued at approximately $6,264,320. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Rachel Ruggeri sold 3,750 shares of Starbucks stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $80.00, for a total value of $300,000.00. Following the sale, the chief financial officer now directly owns 65,431 shares in the company, valued at $5,234,480. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,250 shares of company stock valued at $579,375. 1.98% of the stock is currently owned by corporate insiders.

Starbucks Stock Performance

SBUX opened at $79.54 on Wednesday. The stock has a fifty day moving average of $77.79 and a 200-day moving average of $84.89. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $107.66. The company has a market capitalization of $90.09 billion, a P/E ratio of 20.92, a P/E/G ratio of 1.70 and a beta of 0.94.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.93. The firm had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $9.25 billion. Starbucks had a net margin of 11.38% and a negative return on equity of 49.91%. The business’s revenue for the quarter was down .6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.00 EPS. On average, equities research analysts predict that Starbucks Co. will post 3.57 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 2.87%. The ex-dividend date is Friday, August 16th. Starbucks’s payout ratio is presently 62.81%.

Starbucks Company Profile

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of coffee worldwide. The company operates through three segments: North America, International, and Channel Development. Its stores offer coffee and tea beverages, roasted whole beans and ground coffees, single serve products, and ready-to-drink beverages; and various food products, such as pastries, breakfast sandwiches, and lunch items.